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FX.co ★ European stocks rose on Friday for the third trading session in a row

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Analysis News:::2022-03-21T06:04:39

European stocks rose on Friday for the third trading session in a row

European stocks rose on Friday for the third trading session in a row

Investors continued to evaluate the results of the meetings of the US Federal Reserve System and the Bank of England, according to Trading Economics.

The composite index of the largest companies in Europe Stoxx Europe 600 increased by 0.9% during the day and amounted to 454.62 points. Since last Friday, it has risen by more than 5%, the highest gain since November 2020. At the same time, the indicator ended "in positive territory" for the second week in a row.

The German DAX index on Friday rose by 0.2%, the British FTSE 100 - by 0.3% (having reached a maximum in two weeks), the French CAC 40 and the Spanish IBEX 35 - by 0.1%, the Italian FTSE MIB - by 0. 4%.

Over the past week, the CAC 40 is up 5.8%, the FTSE 100 is up 3.4% (the biggest gain since November 2020), and the DAX is up about 5%.

The leading gainer among Stoxx 600 components on Friday was HelloFresh SE, a food kit delivery company, up 9.7%. Quotes of securities of other representatives of this sector also rose significantly: Ocado Group Plc - by 7.6% and Delivery Hero SE - by 7.3%.

Shares of the German developer of software for remote access to computers TeamViewer rose in price by 6.6%, another IT company Softcat Plc - by 6%.

Meanwhile, Polymetal International, Russia's largest silver producer and one of the leading gold miners, plunged 13.6%. This is the worst result among the Stoxx 600 companies.

In addition, shares of reinsurance firm Hannover Rueck SE (-4.5%), media company ProSiebenSat.1 Media SE (-4.2%), developers Entra ASA (-3.7%) and Vonovia SE (-3 .3%).

On the British market, shares of mining companies rose in price, including Anglo American (+0.8%) and BHP (+0.4%).

Ted Baker Plc jumped more than 17% after investment firm Sycamore Partners Management LP confirmed it was considering an offer to buy the clothing retailer.

Papers BATM Advanced Communications Ltd. rose by 1.4%. A telecommunications technology and systems provider for medical laboratories has entered into a strategic partnership with Taiwan's NEXCOM International Co.

Capitalization of Electricite de France SA increased by 1.7% - up to 9.47 euros. The French energy company plans to raise 3.1 billion euros through an additional issue. EDF will place 500 million new shares on the stock exchange at a price of 6.35 euros per share. The company will give its shareholders a priority right to purchase.

Analyst InstaForex
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